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Why IOST?

The three main factors developers consider when choosing a blockchain platform for developing decentralized app services are: a fast user experiences, cheap platform usage charges and a comfortable working environment for developers, according to QED CEO Kim Hoon-il, who previously worked for Kakao’s Klaytn and the Gopax cryptocurrency exchange. “I chose IOST as the developing platform considering its quick user experience, cheap stake commissions and easy programming language” said Kim, at 2020 IOST Meetup held on Monday. Kim developed the Gopax cryptocurrency exchange at blockchain startup Streami and also developed Klaytn-related products at Kakao’s Ground X. He currently operates IOST Nodes. Quick formation of blocks helps easier communications For a decentralized app to compete with the existing servers, it needs to be able to pull off a similar level of speed. Generally, a quicker user experience refers to shorter loading time, but in the case of decentralized apps, it means “forming blockchain blocks and making them complete should be processed fast,” according to Kim. Decentralized apps that require a long time to create blocks cause inconvenience for users. Ethereum, which takes 15 seconds to create a block, has been at the center of controversy. Another example is blockchain game Cryptokitties. If it takes a long time to send kitties on Cryptokitties, it could cause blocks to conflict, which could raise issues when encashing them. Ethereum earned from playing Cryptokitties also takes time to be sent to blockchain exchange. “Block finality, or the time it takes to form blocks, is crucial for decentralized apps that require a close connection with external forces outside the blockchain industry” said Kim. It takes three seconds for Tron, one second for Klaytn and 0.5 seconds for EOS and IOST. Charging less A low commission rate is also an important factor that needs to be considered when choosing a blockchain platform. Etereum’s high commission rate continues to be an issue. Higher commission rates enable a higher transaction rate when it comes to Ethereum. In 2017, when the popularity of Cryptokitties was at its peak, bottlenecks occurred on the network due to the high number of users. This caused the commission rate to rise 10 fold. Easy programming language For developers, it is important to be able to use a familiar programing language. Javascript and C are the most commonly utilized programming languages. “As for Ethereum, it was developed with Solidity, which makes it impossible to upgrade, said Kim. Tron also uses Solidity, while EOS and IOST utilize C++ and Javascript, respectively.

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